Axiom Mining has started negotiations with Axiom Bugotu Nickel to acquire a 60% interest in Solomon Islands company Bugotu Minerals (BML).

If successful the acquisition is likely to give Axiom an interest in two nickel laterite deposits.

BML has lodged an application with authorities in the Solomon Islands to acquire prospecting licences over the Takata and San Jorge laterite nickel deposits of Santa Isabel and San Jorge islands.

BML is wholly owned by the Bugotu Landowners Association (BLA) but before the company's proposed acqusition, it is intended that BLA will transfer an 80% interest in BML to the seller on terms being negotiated.

At present Axiom has interests in two Vietnamese gold projects, Quang Binh Gold and Quang Tri Gold, which carry potential similar to gold deposits being mined by Oxiana at Sepon, Laos, around 45km west across the border.

It also has interests in Queensland, including the Cardross copper, gold and silver project, the OK Mines gold and copper project, the Mt Molloy zinc and copper project, and the White Hills copper and gold project.

www.axiom-mining.com